Data Is the Key
In a cutting-edge competition, data can be as valuable as the product itself. Pharma companies collect data on Healthcare Professionals (HCPs), stockists, and chemists for targeting their launches and other marketing activities. However, many pharma companies struggle to maintain de-duplicated data. They operate with duplicate, incomplete, or outdated records, which can cost more if left unchecked. This incomplete data can lead to flawed targeting, poor sales forecasting, and costly compliance risks.
Having clean data is not only an operational necessity — it’s a competitive edge over your rivals.
The Cost of Unchecked Data in Pharma
When companies fail to operationalize clean data, it can create an impact across business areas:
Flawed Targeting
When sales reps engage with outdated or incomplete data, it wastes much of their time, reduces engagement with doctors, and fails to target the right HCPs. This can negatively impact ROI.
Poor Sales Forecasting
Data is key to sales forecasting. When a system is fed with inaccurate trade data, it becomes difficult to track overstocking or understocking. Sales planning can go haywire in the absence of correct data.
Compliance Issues
Duplicate or incorrect records can create a nuisance for local pharma regulations. Clean, de- duplicated data is far more compliant.
Missed Opportunities
Incomplete data can lead to missing high-value opportunities, impacting revenue.
Master Data Management: Ensuring Accuracy at Scale
Master Data Management (MDM) is a technology approach to create a single, trusted
source for HCP and trade partner records. This is a consistent source of core business data
across the organization.
Master data refers to the essential information that supports commercial, regulatory, and
operational activities. This includes:
● HCP Data: Names, specialty, contacts, affiliations, prescribing patterns, etc.
● Trade Partner Data: Distributors, stockists, wholesalers, and retail pharmacies, etc.
● Product Data: Drug names, dosage forms, packaging, etc.
MDM Ensuring Accuracy at Scale
Validations
Automated checks can flag duplicates, incomplete fields, and incorrect formats before they are entered into the system. The validation step prevents duplication and avoids compliance issues in the future.
Bulk Uploads
The system can support bulk uploads quickly, saving time on manual entries. Files can be uploaded in bulk and data can be fetched without compromising quality.
Universe-Level Governance
Each record—whether for an HCP or a trade partner—is unified into a single ‘Golden Record’ that remains consistent across the organization.
Integrating Systems
Data can be synchronized across departments and compliance platforms. It can be regularly updated with authentic resources to ensure accuracy.
Benefits of Clean HCP and Trade Data
When master data is managed, and the organization has clean, de-duplicated, and complete
records, it can achieve:
● Strengthened Compliance
Accurate data is the basis of accurate reporting. Accurate reports drastically minimize
errors and make the organization more regulatory-compliant by reducing risk.
● Improved Market Coverage
Complete, wholesome data can help identify and engage untapped clients and
territories.
● Empowered Decision-Making
Data helps respond to real-time changes and strategize activities in advance.
● Better Sales Force Effectiveness
Accurate data can help plan daily calls, improve HCP engagements, and deliver
better results.
Keacyte’s Master Data Management Module
Keacyte keeps all your critical data on doctors, chemists, and the customer universe in one reliable system. It enables seamless uploads, real-time edits, and smart validations to prevent duplicates. It uses smart validations and a universe master to check for duplicates during data upload or edits. It flags potential matches in real time based on parameters like name, registration number, or code, helping maintain data integrity across the system.
With its user-friendly upload screens and universe-level controls, it keeps data accurate, consistent, and actionable. It can easily map team structures and territories, ensuring every function runs on accurate, connected data. It also has unique hierarchy management from country to market area. It maintains area, employee roles, team, and market masters with ease. Keacyte’s MDM module is integrated with other modules like sales reporting, call planning, sample management, and event tracking. This ensures that all operations run on a single source of truth, enabling seamless coordination and decision-making across functions.
Keacyte’s MDM Success
With MDM, Keacyte helped clients achieve a 50% reduction in doctor databases. It enabled advanced profiling of doctors, and cleaned databases facilitated interrelation with prescription monitoring, enabling better doctor potential assessment. It also helped clients calculate the aggregate spend on each doctor. Sales force costs were significantly reduced by eliminating duplicates and improving database accuracy.
Conclusion
Duplication of essential HCP data can hinder sales force effectiveness and impact return on
investment (ROI).
Accurate HCP and trade partner data enhances market coverage and speeds up decision-
making. It strengthens the sales force by accurately planning calls, improving HCP
engagements, and delivering better results.
Companies should invest in MDM if they want to capture market share and stay competitive.
MDM modules like Keacyte are supporting pharma companies to reduce duplication of data
by 50%, ensuring data accuracy and enabling data-based decision-making.